Six blend samples were prepared by the physical mixing of epoxidized resole (EDR) with different weight ratios of carboxyl-terminated polybutadiene (CTPB) liquid rubber ranging from 0 to 25 wt % in intervals of 5 wt %. The formation of various reaction products during the curing of unblended EDR and CTPB-blended EDR were studied with Fourier transform infrared spectroscopy. The curing time at 100 degrees C for the blend sample containing 15 wt % CTPB was the least among all of the blend samples. This blend sample, also, showed the highest initial degradation temperature, as obtained from thermogravimetric analysis thermograms, which indicated that it was the most thermally stable matrix system. The films of coatings based on the blend of EDR with 1.5 wt % CTPB offered the highest resistance toward different concentrations of acids and alkalis compared to the films having 5, 10, 20, and 25 wt % CTPB in the EDR/CTPB blends. Solvents showed almost the same behavior as acids and alkalis for these films except for hydrocarbon solvents such as mineral turpentine oil, toluene, and xylene. The resistance toward these solvents was poor and slightly inferior to those found with EDR unblended with CTPB. The tensile, flexural, and impact strengths of the molded specimens derived from the EDR/CTPB blends initially increased up to 15 wt % CTPB addition in the blend and then decreased, whereas the elongation at break remained constant for all blend compositions. (c) 2006 Wiley Periodicals, Inc.